Sebi orders attachment of bank, demat accounts of 16 entities

Markets regulator Sebi has ordered the attachment of bank and demat accounts as well as mutual fund folios of as many as 16 entities to recover dues amounting to Rs 1.36 crore.

The attachment orders have come after the entities failed to pay the initial penalties slapped on them by the Securities and Exchange Board of India (Sebi) for violating securities market regulations.

The pending dues include initial fines and interest on them.

The 16 entities include Jayesh Kumar Shah, Dalsukhbhai Patel, Vinod Patel, Navin Patel, Navin Trikamdas Thakkar, Ramdas Kshirsagar, Parth Investments & Consultants and Euphoria Multitrade.

Others are Amar Adhav, Anil Solanki, Jayesh Shah, Ramniklal Patel, R K Kapur, Rajkishore Singh, Jignesh P Lakhlani and Santosh Pawar.

In separate attachment notices, dated March 28, Sebi has directed the banks to attach all accounts including lockers held by the entities.

Also, the depositories -- NSDL and CDSL -- and mutual funds in India have been ordered to attach their demat accounts and mutual fund folios.

Sebi has been given powers to attach properties and bank accounts, among other things, of entities who have failed to comply with the regulators' directions involving payment of penalties and other dues.